The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1887-12-25
VTR. VTR. VTR.
The FIOur1shing Building and
Benevolent Society.
q. B. b. S.

The value and benefit of an organiza-
ton, such as lions Benefit Building
Society, cannot be over estimated. We
give below some figures with regard to
this association, and they tell tale of
the greatest interest to all who are striv-
ing to save money and become inter
ested in the commonwealth in general.
This society has loaned out money in
amounts ranging from 500 as high. as
50, 900, to those having a membership
in it, and the uniform rate. of in
crest is per cent. per annum.
The very best that man could ex-
pect IN small amounts like this, is to
borrow money with Interest ranging
from IL to Is per cent. And
on the most ample secur-
itv: for the largest sums the rate
of interest in this Territory is never be-
low per cent.
The advantage to those who are re-
quired to borrow money for the build
ing of their homes by membership in
this society. therefore, cannot be over
valued. The loans are made to persons
for the building of houses. Moneyeis
not used for speculative purposes. The
loan results in an absolutely and bona
fide value to tn0 person, ana a certain
aud growing value to the country.
The society is deserving of the public
confidence and of public support, for the
reason that it IS, above all others that
we know anything about, a public in
stitution, whose power and wealth are
used purely and solely for the public
good. tr-EA
AS savings society, it is unques-
tionably ahead of anything in the city.
The rates OF interests on deposits IN
banks run from to per cent. Here,
man puts his monthly earnings in the
society and it draws him per cent. If
he borroWs, he borrows at the same
rate of interest which he receives when
he is member OF the society.
1t is purely mutual. 1t has all the
advantages and all the safety of bank,
its rate Of interest is greater, and when
man wants to borrow he borrows at
the same rate which he is paid for
his money when he puts it in there,
so that he loses nothing. When one
puts money in savings bank, the rata
of interest be receives is very low, and
when a man wants to borrow q small
amount, the rate of interest is very
high. 1t is q good deal On the prin-
cipie of Utah farmers, who raise hogs,
selling them in the fall for from to 10
cents per pound, and who buy back
the ham in the spring for II cents per
pound Whereas, in this building So
ciety, to carry out the comparison, a
man sells hogs for 10 cents per pound
and buys them back for 10 cents per
pound when he needs them again.
If he does not need to buy, he gets 10
cents per pound for selling, and if he
has TO buy, without selling, he gets it for
10 cents per pound.
We would like to see this society grow
and prosper, for it is deserving. 1t has
capable officers. a membership COM
posed of the best and most faithful
men and honest workers in the cotn-
munity. 1t is doing an lncalcuiaole
amount of good TO the poor; and Is
great benefit to the city at large, as "
puts up homes, beauties the city, n
creases the taxa ole wealth of the corps-
rate body and secures class OF citiz7ns
OF which any community may be praHd.
This. institution vas Organized June
y. 1858, starting with go memoirs and
9. $50 shares. Since that time 1t has
steadily grown in the estimation of the
people, the books at the present time
showing 800 members. aggregating
500 shares. During its existence it
has received and disbursed Sl73 0GO of
which amount $ii5,00D has ben ad-